It’s easy to take our ability to perform day-to-day activities for granted, but this can change… especially as we age.

Fortunately, most of these changes aren’t dramatically different from one day to the next – it’s more of a gradual process. In fact, you will likely pass through 5 stages of care, to some degree, in your retirement.

When you build and review your retirement income plan, it’s important to consider your future health care needs. Long term care insurance can help you protect this plan – helping you maintain your standard of living as much as possible.

What does long-term care mean?

Long-term care services may be provided in a variety of settings: at home, through adult day care, in a retirement home, assisted-living setting, or long-term care facility. Services may include:

  • Nursing care
  • Rehabilitation and therapy
  • Personal care (help with activities of daily living such as dressing, eating and bathing)
  • Homemaking services (cleaning, laundry, preparing meals)
  • Having another person there to watch over you and help you when and where you need it

When will I need long-term care?

Your need for health care and personal care will change over time. You’ll likely pass through 5 stages of care, to some degree, in retirement.

When we picture ourselves in the future, we do our best to see the positive results of our hard work over the years – maybe it’s relaxing at the cottage or getting out for that daily round of golf. But, it can be difficult to imagine that we may someday need ongoing care… especially if we’re in good health now.

For some it means dealing with minor health problems, for others it means an unexpected health event or accident, and for many of us it will mean chronic health problems that make day-to-day activities very difficult without help from a friend or family member.

As Canadians, understanding these stages is particularly important as we’re living longer than ever before. As you build your retirement income plan, it’s important to consider both lifestyle and life stage choices.